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but remember something about the actual threshold. chuck schumer and nancy pelosi, this summer suggest ad million dollars be the mark for which people begin to pay higher tax rates, not 2 a $50,000. so i think the president definitely stretched his definition of millionaires and billionaires by putting 250 rate income level as that rate but he is getting extension of unemployment benefits he wants as well. so he certainly outmaneuvered us on this one but the real irony here that this whole process was born out of deficit reduction. now the reports are it might add to the deficit. that is counter intuitive. gregg: or at least the 800 plus billion in new revenue would be wiped out by $800 billion into l new spending. it is dead-even and not a nickel goes to deficit reduction. kirsten, if that happens, won't the american people say, hey, wait a minute, wasn't this whole thing supposed to be about reducing the deficit? >> no, they won't. this is fundamental fun political point the republicans seem incapable of understanding. for all their claims this is what the country is obsessed with this
's point, look, democrats have their own up issues internally. nancy pelosi leader democrats in the house and harry reid, leader of senate democrats essentially saying entitlements are off the table when we know entitlements are the biggest drivers of debt. gregg: there may be a reason for that. marjorie, senator john barosso chairman of the republican policy committee put his finger on it. he believes the president is eager to go over the cliff for political reasons because he senses victory at the bottom of the cliff. those are his words verbatim and, you know, then the president gets to punish republicans. and he also might get more money in a for taxpayers, from taxpayers to expand the government. what about that? >> well i have a really hard time believing anybody, republicans or democrats would win from going over the cliff. talking about potentially putting country in recession, what it would do to the markets. here's the deal. these type of negotiations what we lost a $4 trillion opportunity when boehner and obama were at the table having talks prior to the holiday. what we're loo
Search Results 0 to 1 of about 2